Torax Medical develops and markets products designed to treat sphincter disorders using its Magnetic Sphincter Augmentation (MSA) technology platform. It currently markets the LINX Reflux Management System for gastroesophageal reflux disease (GERD) and the FENIX Continence Restoration System for fecal incontinence in the U.S. and Europe. Led by President and CEO Todd Berg and newly appointed Chief Commercial Officer Chas McKhann, the company focuses on chronic diseases related to weak sphincter muscles. Torax completed a $25M Series E financing to support commercial scaling of its product platform. The company is based in St. Paul, Minn. Torax Medical develops and markets Magnetic Sphincter Augmentation (MSA) implants composed of interlinked titanium beads with magnetic cores to augment defective sphincter muscles. Its lead product, the LINX Reflux Management System for GERD, was approved by the US FDA in March following a unanimous FDA advisory panel recommendation. LINX is marketed in the USA and Europe; the company’s FENIX Continence Restoration System for fecal incontinence is marketed in Europe. Devices are implanted via standard minimally invasive laparoscopic or surgical procedures. The company is headquartered in St. Paul, Minnesota and is privately held. Proceeds from the recent financing will be used to expand commercialization efforts for its family of sphincter augmentation products. Torax Medical won CE Mark approval in the European Union for its Linx implantable device to treat gastro‑esophageal reflux disease. The Linx is a ring of interlinked miniature titanium beads with magnetic cores placed around the esophagus to help the sphincter prevent reflux; the beads separate momentarily to allow swallowing. The device has been implanted in more than 150 patients in the U.S. and Europe in clinical trials. It has not yet been cleared for sale in the U.S.; Torax completed patient enrollment in a pivotal clinical trial in September and could seek FDA approval by the end of the year if the trial goes well. The company has raised $31.5M in equity to date, including an $18M Series C (with $3M from Kaiser Permanente Ventures) and earlier Series B and A financings. Torax was founded in 2002, has about 20 employees, and is led by co‑founder and CEO Todd Berg, formerly of St. Jude Medical.

Total raised

$73M

Funding rounds

3

Latest round

Series E

Latest activity

Aug 2016